Many people have clicked on a previous version of this blog post wanting to learn how they should set up a point-based reward program.
Unfortunately, some individuals and recognition and reward providers suggest certain ideas as being best practices so the client’s employees will consume more points. So, buyer beware and let’s learn some principles versus supposed best practices to guide you.
My goal is to provide you with objective information along with solid principles for you to make wise decisions by. I will also give you some pros and cons for some options.
Each organization, large or small, should have a written recognition strategy to position recognition at the forefront in their organization.
Michael Porter, in his classic Harvard Business Review article, “What Is Strategy?” states that “strategic positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing different activities from rivals or performing similar activities in different ways.”
Naturally, Porter is speaking about a traditional business strategy and not about a recognition strategy.
But what can you learn from the wisdom of Michael Porter? Are there principles you can apply to crafting a recognition strategy? Let’s look carefully at his work. (more…)